Real-World Uses for Blockchain Technology

Blockchain is changing the mindset of businesses and governments as we know it. Blockchain has been identified as the next big thing since the internet. It is producing innovative models that are disrupting traditional ones.

The momentum created from this latest technology shows no sign of slowing down. Businesses are aspiring for ways to reach out to the mechanics of this evolving science.

To get in depth knowledge on Blockchain, enrich your skills on Blockchain online training professionals.

This is image title

Blockchain is more than crypto

Since the two are almost always mentioned together, many people do not realize that cryptocurrency is just one application of blockchain. Predominantly, it facilitates transactions without the involvement of banks.

It seems that crypto may soon become an acceptable mode for international payments. This will give businesses access to an increasingly global supply chain.

However, there are plenty of other real-world applications of this game-changing technology. Blockchain has a solid future. The underlying technology already exhibits a great deal of potential, with numerous use cases across various industries.

Examples of how blockchain is changing the world we live in

Here are a few fantastic examples of blockchain at work. The sheer number of applications of the technology makes it next to impossible to list all. This is only the tip of the iceberg. But once you finish reading this blog, you will get a gist of the potential -and power- of what blockchain technology has to offer.

1. International money transfers

This is what cryptocurrency has been successfully doing all along. As people move away from traditional transfer options and onto the blockchain, they can acquire multiple benefits.

Without a central authority, individuals can transfer funds anywhere in the world, at any time, more quickly, and with lower transaction fees. And because transactions are completed faster for a fraction of the cost, it is a more favorable choice.

2. Paying parking fines

Though New York City was the first to propose this idea back in 2014, there has been no follow-up action as of yet. But just recently, South Africa mentioned the same idea. The implication is that governments are considering the use of blockchain for various applications.

3. Government level tasks

While we are on the subject of governments, why not mention those countries that are making headway in adopting blockchain technology.

In 2016, representatives of 30 government departments in Dubai investigated the possibility of becoming the world’s first blockchain-powered state.
Estonia, on the other hand, is collaborating with Ericsson. They aim to move public records onto the blockchain.
Let’s not forget Samsung’s efforts to help the South Korean government with the technology. They are using it for public safety and transport applications. Learn more from blockchain onine course

4. Charging electric cars

As electric cars are a relatively new concept, it will take time for other technological advancements to attach themselves to it. But a German utility company, RWE, is setting the record straight. They have taken a bold step to incorporate blockchain into their options. Now, this technology is backing their charging stations.

5. Car dealers

EV charging facilities are not the only blockchain use case to enter the automotive market. The Mobi initiative is carrying various companies towards the blockchain faster than you think.

Autocoincar is a platform for car dealers. It aims at facilitating the buying and selling of vehicles with the use of crypto all over the world. Though the company supports transactions through fiat currencies such as the US dollar, British pound, Euro, and UAE dirham, it also encourages people to buy a car for sale with bitcoin cash (BCH).

Like many other startups, autocoincars has introduced its cryptocurrency, the Autocoin. The technology backing it is likely to bring the digital currency into the mainstream. It’ll be available for making payments in real-time or for holding onto as reserve assets. Moreover, car dealers can now offer their stock of crypto to buyers and investors alike.

But the most significant advantage lies in the fact that the crypto car sales industry overcomes the exchange rate barrier. That is why there is so much potential for growth.

6. Smart contracts

This is precisely what it sounds- contracts that are much smarter than regular ones. Because smart contracts are developed on the blockchain, there are no intermediaries. And they don’t require a third-party to monitor and legalize them.

Smart contracts are gaining a great deal of traction, especially in the insurance sector. Companies such as Guardtime and Etherisc have already established a foothold. Industries are switching to them as they reduce the dependency on standard legal contracts. Moreover, blockchain has the ability to create trust in a trustless ecosystem with the use of public ledgers. That way, smart contracts can track claims and hold both parties accountable.

7. Copyright and royalty protection

With the explosion of online content, copyright and ownership issues are common concerns. Blockchain is promoting these laws in the digital space. All information is chronologically timestamped, ensuring a clear recording of events. So now, your music, videos, blogs, or any other content is secure.

Furthermore, since downloads can be monitored, artists and content creators can warrant their fair share of the money. Information such as royalty distribution will be available in real-time.

8. Healthcare

The healthcare system is bogged down by multiple inefficiencies. Primarily, they stem from the use of numerous forms, human error, and poor communication between doctors, lab technicians, patients, etc.

Blockchain can automate processes and save countless hours of paperwork. As forms and data are safely stored on the chain, it reduces the probability of human error.

Examples of blockchain already in use in the healthcare system include:

Health Nexus- provides decentralized blockchain patient records
ConnectingCare- tracks the progress of patients after they leave the hospital
MedRec – an electronic medical records system on blockchain designed to manage authentication, confidentiality, and data sharing
9. Digital voting

Voter fraud is a growing concern in developing as well as developed countries. With increasing criticism on the matter, there is a greater need to switch to the blockchain.

The technology touts a high level of transparency as well as information security. With these essential features, voter fraud can be completely eradicated. Any irregularities and attempts at distorting data can be highlighted in real-time. This can bolster a trusted, fair system that promotes success.

10. Cybersecurity

Blockchain is well-known for its ability to safeguard sensitive information. Industries rely heavily on protecting their data, especially with current trends circulating KYC (Know Your Customer) processes.

Remember that blockchain’s ledgers are decentralized. Additionally, blockchain data is encrypted. Information from one block is linked to another. That means that it can’t be corrupted or manipulated by one authority. Any unusual behavior will be instantly detected.

And data is entirely transparent to members (nodes) on a chain. While everyone can view the actions of other individuals, the true identity can remain hidden.

Wrapping up

Blockchain technology is an innovation that is being embraced by many industries. As we travel through the digital era, the functionalities of various technological developments will become more apparent.

Blockchain is offering a wide array of excellent solutions. But it is essential to understand that it cannot be the solution to every problem. Unique applications can satisfy issues that different businesses are facing.

What is currently being observed is the eagerness with which the IT sector is leveraging Blockchain-as-a-Service (BaaS). Major market trendsetters, such as Microsoft, Amazon, and IBM, have already started investing in it.

IT companies are aiming to create a whole new selection of services. Combining BaaS with cloud service, IoT, AI, etc. can open a vast number of solutions. Only time will tell how we will fare in this unexplored territory.

I hope you reach blockchain technology. You can learn more from Blockchain online training Hyderabad.

#blockchain online training #blockchain online course #blockchain training #blockchain course #blockchain online training hyderabad #blockchain online training india

What is GEEK

Buddha Community

Real-World Uses for Blockchain Technology

5 Blockchain Applications That Have Transformed the World of Technology

The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.

Though blockchain technology came into the market to carry out only digital transactions, it is now used in various industries like supply chain, finance, health care, and many more.

The blockchain technology has made its position in mobile app development as well. Blockchain applications are transparent and accountable. From getting easy access to medical records and buying insurance, you can see blockchain applications everywhere.

Here are some of the areas where you can see the use of blockchain applications and how they have changed various industries.

1. Ripple

Ripple is useful for increasing banking transactions. The implementation of blockchain technology in the financial sector is much more profound than any other sector. Ripple proves this. It is one of the greatest tools to record and complete financial transactions.

It develops a large network despite strict physical boundaries. As there is no such third-party involvement present, the cost of these transactions is lower than usual. At the same time, the network also remains transparent and quite secured.

It is normally seen that financial transactions that happen globally are

error-prone and take a lot of time. In addition to this, when the transaction

fees and exchange rates get added up, the total cost usually gets high.

However, Ripple offers real-time international transactions without spending too much money. It has the network of about 200+ institutions making the process affordable, secure, and fast for all sorts of international transactions.

2. Etherisc

This blockchain application helps in automating flight insurance. Insurance is another area where blockchain is gaining popularity. Through this application, insurers can make smart contracts rather than getting involved in the traditional contracts that are usually complex. Etherisc is the blockchain application that helps customers buy flight insurance. If the flight gets canceled or delayed, they do not have to wait for months to get the payment back. This application ensures an on-time payout.

#blockchain #blockchain-technology #blockchain-development #blockchain-use-cases #blockchain-a #blockchain-technologies #technology #decentralization

Deep Shah

Deep Shah

1607515951

Blockchain Technology Frameworks | Codezeros

Blockchain has changed how enterprises work. An enterprise cannot afford to build a complete end-to-end blockchain solution without the help of frameworks. The frameworks help to simplify the process and also ensure that the enterprise has the freedom to customize the blockchain network they are building for themselves. With Codezeros, you can easily find the best development frameworks that enable web developers to create Blockchain websites efficiently.

#blockchain technology frameworks #blockchain technology #blockchain technology solutions #blockchain technology development #blockchain development #blockchain framework

Real-World Uses for Blockchain Technology

Blockchain is changing the mindset of businesses and governments as we know it. Blockchain has been identified as the next big thing since the internet. It is producing innovative models that are disrupting traditional ones.

The momentum created from this latest technology shows no sign of slowing down. Businesses are aspiring for ways to reach out to the mechanics of this evolving science.

To get in depth knowledge on Blockchain, enrich your skills on Blockchain online training professionals.

This is image title

Blockchain is more than crypto

Since the two are almost always mentioned together, many people do not realize that cryptocurrency is just one application of blockchain. Predominantly, it facilitates transactions without the involvement of banks.

It seems that crypto may soon become an acceptable mode for international payments. This will give businesses access to an increasingly global supply chain.

However, there are plenty of other real-world applications of this game-changing technology. Blockchain has a solid future. The underlying technology already exhibits a great deal of potential, with numerous use cases across various industries.

Examples of how blockchain is changing the world we live in

Here are a few fantastic examples of blockchain at work. The sheer number of applications of the technology makes it next to impossible to list all. This is only the tip of the iceberg. But once you finish reading this blog, you will get a gist of the potential -and power- of what blockchain technology has to offer.

1. International money transfers

This is what cryptocurrency has been successfully doing all along. As people move away from traditional transfer options and onto the blockchain, they can acquire multiple benefits.

Without a central authority, individuals can transfer funds anywhere in the world, at any time, more quickly, and with lower transaction fees. And because transactions are completed faster for a fraction of the cost, it is a more favorable choice.

2. Paying parking fines

Though New York City was the first to propose this idea back in 2014, there has been no follow-up action as of yet. But just recently, South Africa mentioned the same idea. The implication is that governments are considering the use of blockchain for various applications.

3. Government level tasks

While we are on the subject of governments, why not mention those countries that are making headway in adopting blockchain technology.

In 2016, representatives of 30 government departments in Dubai investigated the possibility of becoming the world’s first blockchain-powered state.
Estonia, on the other hand, is collaborating with Ericsson. They aim to move public records onto the blockchain.
Let’s not forget Samsung’s efforts to help the South Korean government with the technology. They are using it for public safety and transport applications. Learn more from blockchain onine course

4. Charging electric cars

As electric cars are a relatively new concept, it will take time for other technological advancements to attach themselves to it. But a German utility company, RWE, is setting the record straight. They have taken a bold step to incorporate blockchain into their options. Now, this technology is backing their charging stations.

5. Car dealers

EV charging facilities are not the only blockchain use case to enter the automotive market. The Mobi initiative is carrying various companies towards the blockchain faster than you think.

Autocoincar is a platform for car dealers. It aims at facilitating the buying and selling of vehicles with the use of crypto all over the world. Though the company supports transactions through fiat currencies such as the US dollar, British pound, Euro, and UAE dirham, it also encourages people to buy a car for sale with bitcoin cash (BCH).

Like many other startups, autocoincars has introduced its cryptocurrency, the Autocoin. The technology backing it is likely to bring the digital currency into the mainstream. It’ll be available for making payments in real-time or for holding onto as reserve assets. Moreover, car dealers can now offer their stock of crypto to buyers and investors alike.

But the most significant advantage lies in the fact that the crypto car sales industry overcomes the exchange rate barrier. That is why there is so much potential for growth.

6. Smart contracts

This is precisely what it sounds- contracts that are much smarter than regular ones. Because smart contracts are developed on the blockchain, there are no intermediaries. And they don’t require a third-party to monitor and legalize them.

Smart contracts are gaining a great deal of traction, especially in the insurance sector. Companies such as Guardtime and Etherisc have already established a foothold. Industries are switching to them as they reduce the dependency on standard legal contracts. Moreover, blockchain has the ability to create trust in a trustless ecosystem with the use of public ledgers. That way, smart contracts can track claims and hold both parties accountable.

7. Copyright and royalty protection

With the explosion of online content, copyright and ownership issues are common concerns. Blockchain is promoting these laws in the digital space. All information is chronologically timestamped, ensuring a clear recording of events. So now, your music, videos, blogs, or any other content is secure.

Furthermore, since downloads can be monitored, artists and content creators can warrant their fair share of the money. Information such as royalty distribution will be available in real-time.

8. Healthcare

The healthcare system is bogged down by multiple inefficiencies. Primarily, they stem from the use of numerous forms, human error, and poor communication between doctors, lab technicians, patients, etc.

Blockchain can automate processes and save countless hours of paperwork. As forms and data are safely stored on the chain, it reduces the probability of human error.

Examples of blockchain already in use in the healthcare system include:

Health Nexus- provides decentralized blockchain patient records
ConnectingCare- tracks the progress of patients after they leave the hospital
MedRec – an electronic medical records system on blockchain designed to manage authentication, confidentiality, and data sharing
9. Digital voting

Voter fraud is a growing concern in developing as well as developed countries. With increasing criticism on the matter, there is a greater need to switch to the blockchain.

The technology touts a high level of transparency as well as information security. With these essential features, voter fraud can be completely eradicated. Any irregularities and attempts at distorting data can be highlighted in real-time. This can bolster a trusted, fair system that promotes success.

10. Cybersecurity

Blockchain is well-known for its ability to safeguard sensitive information. Industries rely heavily on protecting their data, especially with current trends circulating KYC (Know Your Customer) processes.

Remember that blockchain’s ledgers are decentralized. Additionally, blockchain data is encrypted. Information from one block is linked to another. That means that it can’t be corrupted or manipulated by one authority. Any unusual behavior will be instantly detected.

And data is entirely transparent to members (nodes) on a chain. While everyone can view the actions of other individuals, the true identity can remain hidden.

Wrapping up

Blockchain technology is an innovation that is being embraced by many industries. As we travel through the digital era, the functionalities of various technological developments will become more apparent.

Blockchain is offering a wide array of excellent solutions. But it is essential to understand that it cannot be the solution to every problem. Unique applications can satisfy issues that different businesses are facing.

What is currently being observed is the eagerness with which the IT sector is leveraging Blockchain-as-a-Service (BaaS). Major market trendsetters, such as Microsoft, Amazon, and IBM, have already started investing in it.

IT companies are aiming to create a whole new selection of services. Combining BaaS with cloud service, IoT, AI, etc. can open a vast number of solutions. Only time will tell how we will fare in this unexplored territory.

I hope you reach blockchain technology. You can learn more from Blockchain online training Hyderabad.

#blockchain online training #blockchain online course #blockchain training #blockchain course #blockchain online training hyderabad #blockchain online training india

Abigail betty

Abigail betty

1624384800

What is Blockchain? Blockchain Technology Explained Simply

Blockchain technology is a way of managing a ledger of records in a decentralized manner. It means that everyone participates in maintaining and updating the ledger, which makes it practically impossible to falsify.

While Blockchain technology is a good solution to the issue of centralization, it’s also very inefficient and slow, therefore it should only be used if the problem at hand is indeed centralization.

That’s Blockchain technology in a nutshell. If you want a more detailed explanation about the Blockchain and how Blockchain technology watch the complete video , here’s what I’ll cover:

0:54 - What blockchain aims to solve
2:48 - Bitcoin: the decentralization of money
3:10 - Decentralization opportunities
4:04 - Blockchain explained in a nutshell
5:16 - How does blockchain technology work
10:05 - Ethereum in a nutshell
10:26 - Private blockchains
11:40 - Public blockchains
11:58 - Is blockchain the next big thing?
13:12 - Conclusion

📺 The video in this post was made by 99Bitcoins
The origin of the article: https://www.youtube.com/watch?v=2yJqjTiwpxM
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
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Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!

#bitcoin #blockchain #what is blockchain #blockchain technology #what is blockchain? blockchain technology explained simply

Devin Pinto

1613105280

Top 5 Real-World Applications Of Blockchain

The advent of Blockchain technology has paved the way for a new range of innovations across the various verticals of industry. Every part of business activity is now pursuing assistance and assistance from the Blockchain, from human resources management to financial management. In 2009, this distributed ledger technology originated as an underlying Bitcoin trading mechanism. However, its characteristics such as decentralization, transparency, data protection, and others attracted the attention of developers and Blockchain soon emerged as the mainstream technology. Most market niches are now reaping advantages from this DLT.

When it comes to practical applications, the use of Blockchain is not limited to whitepapers, but rather the technology has its roots spreading; Deloitte, Facebook, IBM, Wallmart and several other businesses are actively using this technology. And if we’re talking about Blockchain-based enterprises, so they’re not all big names. Instead, several start-ups have entered into this sector with the ultimate aim of making this technology infallible and popular.

5 Real-world Blockchain apps:

Here, we will illustrate how Blockchain developers have made this technology useful in the real world:

Smart contracts- Smart contracts are the first example that we want to bring forward here. Such digitized contracts have the ability to alter the operation of agreements. The credit for the development of the smart contract goes to Nick Szabo. On a computerized transaction protocol supervised by several nodes linked to the Blockchain network, blockchain-based smart contracts operate. In various fields, such as real estate, law, and finance, the functional usefulness of smart contracts is then used.

Voting- Voting is one of the prominent applications of Blockchain technology. The protection of the voting system has always been a question of concern, and Blockchain may be a possible solution for those who question and criticize the voting system. We can produce voting encryption with the Blockchain, allowing data attacks and threats free from the entire system. The voting system is therefore more straightforward and infallible.

Healthcare- Fighting the issue of counterfeit drugs is a significant problem that requires prompt attention; at the same time, a vast amount of data and medical information is gathered by healthcare. It can be a little difficult to retain and access this information using the traditional platform, but it can ensure data portability, integrity and security with the Internet of Medical Stuff (IoMT) and medical examination systems using AI and Blockchain. This will also help to keep a balance on the preservation of health records and patient medical history.

Food safety- Blockchain will change the entire supply chain management system that spreads from producers, brokers, distributors, regulators, and finally, the customer, according to technology experts. The food industry is lacking transparency in the current scenario, but with the intervention of Blockchain technology, we will definitely have a system that is much more open and secure. Blockchain increases traceability, meaning that the past of pf goods can be easily traced by customers, thereby ensuring the origin of food, packaging and supply.

Cybersecurity- Definitely, this point requires a lot of focus. The growing dependency on digital forums has made the virtual world vulnerable to personal information and data. Although businesses follow a system of improved protection, it has also made it easy for hackers to target the security system and steal sensitive information. According to the Identity Theft Resource Centre report, there were around 668 cases of data breach leading to a compromise of 22,408,258 records between January 1st 2018 and July 2nd 2018, and this is only one example, there are many other instances where we have seen cases of a data breach, and thus there is a need for a system that can guarantee the system’s complete safety and protection. With Blockchain, we can definitely assume that this distributed ledger platform would make it easy for the user, free of privacy risks and abuses, to place their data and records on the system. Because all DLT data is cryptographically encrypted, it allows the system much safer and more reliable than the traditional system.

The Future

There are several real-life examples of how the real world is using Blockchain. In these times to come, we expect Blockchain to achieve CAGR growth of 67.3 percent by 2025. For Blockchain developers and Blockchain experts, all of this will open up new avenues of development and job opportunities. If you too are one of those eager to develop your career well, you must consider going ahead with Blockchain certification by the Blockchain Council.

#blockchain technology #blockchain platform #blockchain expert #blockchain professionals #blockchain #blockchaincouncil